Knowledge Center

Home Finance

Home Solar Panels: Cost, Benefits, Payback Period, and Tax Credits

Installing solar panels on your home can be a great way to save money, reduce your reliance on the electrical grid, and even boost the value of your home.

What Is the Average Payback Period for Solar Panels?

To determine the solar panel payback period on a home, we start with the total project cost and subtract any incentives that you get (like the 30% solar tax credit).

How Much Do Home Solar Panels Cost?

Get access to solar financing methods such as home solar loans and solar leasing that can lower the upfront cost of going solar. Financing solar panels has its own set of expenses and values to be weighed when considering solar panel installation on your home.

The Federal Solar Tax Credit for Homes

Significant federal tax credits and other financial incentives can lower the costs associated with a solar installation and make going solar even more financially lucrative.

Do Solar Panels Increase Home Value?

Berkeley Lab and Sandia National Laboratories found an increase in home value from solar panels of over $4 per installed watt.

Should I Lease or Finance Solar Panels?

Many people can have solar panels installed for no money down, and stay cash positive from day one.

Solar Panel Maintenance and Repair

Maintaining and repairing solar panels is typically easy and mostly affordable. That said, you should leave repairs to solar panels, solar inverters, and other solar installation components to the professionals.